Homeownership Still Part of “American Dream”

COLLEGE STATION (Real Estate Center) – After seeing home prices fall for the first time in living history, do younger Americans still want to buy a house? The chief economist for the Real Estate Center at Texas A&M University says “absolutely.”

“Americans in their 20s and 30s are still interested in buying a house in the future,” said Dr. Mark Dotzour. “The great recession caused many Americans to postpone major decisions, such as getting married, having children and homeownership. The recession is over, and young people are getting interested in homes again.”

According to a recent Gallup Poll, more than 80 percent of Americans plan to continue owning a home for the foreseeable future or plan to buy one within ten years.

“These results certainly suggest that the ‘American Dream’ of owning a home is still very much alive, and that the real estate industry should expect a continuing demand for homeownership in the years ahead,” says the Gallup Economy website.